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Round all final answers to the nearest cent. $137,700 Use the following tax rates and wage limits: Employee and Employer OASDI: 6.20% Employee* and Employer
Round all final answers to the nearest cent. $137,700 Use the following tax rates and wage limits: Employee and Employer OASDI: 6.20% Employee* and Employer HI: 1.45% Self-employed (SECA) OASDI: 12.4% Self-employed (SECA) HI: 2.9% No limit $137,700 No limit FUTA .6% $7,000 SUTA use rates and limits given in problem *Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed HI For federal income tax amounts, use the wage bracket tables and formulas in your book, or download and use this copy 2020 Tax Tables Unless instructed otherwise, compute hourly rate and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, drop the third decimal place. All of these rates, limits, and rounding rules are the same as those used in your book, that you've been using all quarter. Question 30 1 pts Mary earns $15 per hour assembling widgets and is paid 1.5 times the regular rate for all hours worked in excess of 40. She earns a production bonus of $3 per widget for all widgets assembled in excess of 120 in one week, even if it's earned in overtime hours. This week she assembled 142 widgets and worked 43 hours. What is Mary's production bonus this week? Do not use dollar signs in your
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